· New Multi Year Services Agreement to Cover Three GE 9FA Gas Turbines at IEC’s Eshcol, Tzafit and Alon Tavor Power Stations which include Hot Gas Path Inspection and Major Inspection to each unit.

· IEC Selects GE to Help Increase Long-Term Reliability of its Three Power Plants

HAIFA, ISRAEL—September 8 , 2016—In a move to help enhance the country’s long-term energy supply security, Israel Electric Corporation, Ltd (IEC), Israel’s main electric utility, and GE’s Power Services business (NYSE: GE) today announced a new multi-year services agreement, in which GE will support the long-term availability of its three 9FA gas turbines at IEC’s Eshkol Power Station, Tzafit Power Station and Alon Tavor Power Station.

Paul McElhinney, president & CEO of GE’s Power Services business, met this week with IEC and other GE executives in a formal signing ceremony for the multi-year agreement at IEC’s headquarters in Haifa. The new deal follows a previous 13-year multi-year agreement between IEC and GE for the three stations. The new pact goes into effect when the old service agreement expires in 2017. The agreement covers parts, repair and technical advisor services for planned outages for the three 9FA units.

As further noted by GE’s McElhinney, “GE is delighted to continue our close working relationship with IEC by implementing this multi-year agreement and maintaining IEC’s three power plants. We are proud to help IEC work to increase the country’s long-term energy supply by improving the reliability and availability of its existing 9FA gas turbine fleet.”